Chapter

The Measurement of Capital—Value and Volume

John Hicks

in Capital and Time

Published in print October 1987 | ISBN: 9780198772866
Published online November 2003 | e-ISBN: 9780191596414 | DOI: http://dx.doi.org/10.1093/0198772866.003.0013
 The Measurement of Capital—Value and Volume

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This chapter begins by reviewing discussions in the preceding chapters. It then considers what can be done towards relaxing those basic assumptions which have been used for so long — the single homogeneous final product,called Good, and the one original factor, called Labour. These are familiar assumptions, common to many forms of growth theory; but they are very strong assumptions, and should surely at some stage be called in question.

Keywords: minor switches; multiplicity of goods; labour; economic growth theory

Chapter.  6749 words. 

Subjects: Macroeconomics and Monetary Economics

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